Laurel, MT
APPRECIATION RATE TRENDS AND HOUSING MARKET DATA




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Laurel, MT Real Estate Data

Source & Methodology

Analytics built by:   Location, Inc.

Raw data sources:   American Community Survey (U.S. Census Bureau), U.S. Department of Housing and Urban Development, Federal Housing Finance Agency.

Date(s) & Update Frequency:
  • Home Values, Rents: Reflects Q1 2017. Updated quarterly.
  • Setting, Housing Stock, Homeownership: 2015 (latest available). Updated annually.

Methodology:   NeighborhoodScout uses over 600 characteristics to build a neighborhood profile… Read more

Laurel Housing Market Information

With 6,943 people, 2,825 houses or apartments, and a median cost of homes of $189,087, Laurel real estate prices are well above average cost compared to national prices.

Single-family detached homes are the single most common housing type in Laurel, accounting for 66.55% of the city's housing units. Other types of housing that are prevalent in Laurel include mobile homes or trailers ( 15.98%), duplexes, homes converted to apartments or other small apartment buildings ( 7.76%), and a few large apartment complexes or high rise apartments ( 7.33%).

Owner-occupied, three and four bedroom dwellings, primarily in single-family detached homes are the most prevalent type of housing you will see in Laurel. Owner-occupied housing accounts for 69.41% of Laurel's homes, and 52.44% have either three or four bedrooms, which is average sized relative to America.

There is a lot of housing in Laurel built from 1970 to 1999 so parts of town may have that "Brady Bunch" look of homes popular in the '70s and early '80s, although some of these houses were built up through the early '90s as well. There is also a lot of housing in Laurel built between 1940-1969 ( 28.80%). A lesser amount of the housing stock also hails from before 1939 ( 16.02%). There's also some housing in Laurel built between 2000 and later ( 8.36%).

Laurel Home Appreciation Rates

In the last 10 years, Laurel has experienced some of the highest home appreciation rates of any community in the nation. Laurel real estate appreciated 23.48% over the last ten years, which is an average annual home appreciation rate of 2.13%, putting Laurel in the top 20% nationally for real estate appreciation. If you are a home buyer or real estate investor, Laurel definitely has a track record of being one of the best long term real estate investments in America through the last ten years.

Over the last year, Laurel appreciation rates have trailed the rest of the nation. In the last twelve months, Laurel's appreciation rate has been 2.52%, which is lower than appreciation rates in most communities in America. In the latest quarter, NeighborhoodScout's data show that house appreciation rates in Laurel were at -0.34%, which equates to an annual appreciation rate of -1.34%.

Relative to Montana, our data show that Laurel's latest annual appreciation rate is lower than 80% of the other cities and towns in Montana.

Average Home Values

 

Median Home Value:
$189,087

Laurel, MT HOME PRICES

Value Range
> $1,124,000 0.0
$843,001 - $1,124,000 0.0
$562,001 - $843,000 2.3
$450,001 - $562,000 2.7
$337,001 - $450,000 6.1
$225,001 - $337,000 19.5
$112,001 - $225,000 54.2
$56,001 - $112,000 7.1
$0 - $56,000 8.2

Average for MT
High for Nation

Value Relative to Nation Value Relative to State
35.1459041368803 51.5625

Number Of Homes And Apartments:
2,825

Laurel Appreciation Rates

 
Time Period Total Appreciation Avg. Annual Rate Compared To
MT*
Compared To
America*
Latest Quarter:
2016 Q4 - 2017 Q1
Last 12 Months:
2016 Q1 - 2017 Q1
Last 2 Years:
2015 Q1 - 2017 Q1
Last 5 Years:
2012 Q1 - 2017 Q1
Last 10 Years:
2007 Q1 - 2017 Q1
Since 2000:
2000 Q1 - 2017 Q1
86.11% 3.67% 5 9
* 10 is highest

Rent & Ownership

 

Average Market Rent:
$785 / per month

Homeownership Rate

Homeownership
Owners 69.41
Renters 30.59
Vacant 6.70

Housing Market Details

 

Age of Homes

AGE OF Laurel HOMES
2000 or Newer 8.4
1970 - 1999 46.8
1940 - 1969 28.8
1939 or Older 16.0

Types of Homes

TYPE OF Laurel HOMES
Single-Family 66.5
Townhomes 2.4
Small Apt. Buildings 7.8
Apt. Complexes 7.3
Mobile Homes 16.0
Other 0.0

Home Size

SIZE OF Laurel HOMES
No Bedroom 2.54
1 Bedroom 11.23
2 Bedrooms 29.13
3 Bedrooms 34.58
4 Bedrooms 17.87
5 or more bedrooms 4.66

Popular Neighborhoods in Laurel

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Zip Codes in Laurel, MT